US Gold Stockpiles Hit Record High in Wake of Trump Tariff Trade
A gold drink coaster in the Oval Office.
Photographer: Bonnie Cash/UPI/Bloomberg
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A record amount of gold is now sitting in US exchange warehouses, after tens of billions of dollars of bullion flowed into the country in a tariff-driven frenzy.
Inventories for New York’s Comex bourse hit 39.7 million ounces on Wednesday, the most in data going back to 1992 and worth about $115 billion. The hoard has more than doubled since early December, driven by a surge in US prices over international benchmarks that created a lucrative arbitrage opportunity for traders who could transport gold there.